7 Must Know Rule for Start-ups
There are just couple of days left and then the World will enter in the New Year 2017 with new hopes, expectations and opportunities. The year 2016 has seen a lot many start-ups coming with some doing well just in a year and 2017 is expected to support a friendlier environment for the start-ups with investors ready to pump money in new business ideas.
If we look at the statistics, nearly a million startups are formed every year which breaks into three startups coming every second and the ones which succeed among others are those which are able to solve particular problems of people in a better way.
With technological revolution, the new rules for engagement have been set which is reshaping the ones formed during the period of Industrial revolution. The young entrepreneurs find opportunities at the bottom up approach where work is done through collaboration and transparency.
There are 7 rules for startups which they should try to follow in order to stand out and create a unique image of their formed venture:
- Passion should drive you, not just money- If you are thinking to nurture your idea, you should be confident and passionate enough to give it wings and don’t fear to fail. But, if you are doing it just for the sake of money, there may be chances that you give up easily in terms of unfavourable circumstances.
- Don’t be late- Don’t just ponder over the do’s and don’ts as each second is crucial in this fast-changing world. As much you delay the execution, more the chances of fewer opportunities. You may be the one to come up with the idea first but some other player will take the market if he is quick enough to respond.
- Hire Smart People- If you want your startup to grow and grow really big, look for people smarter than you. Infact David Ogilvy, father of modern advertising once said that ”If you ever find a man who is better than you are – hire him. If necessary, pay him more than you would pay yourself.”
- Play on your strong areas- Find out what you are good at and do best in those areas. For other things, you can always outsource the experts. It’s difficult for a newbie to do everything perfectly, so don’t bother much about it.
- Keep fewer hierarchies- To get the best ideas, it is necessary to have open forums for discussions and free flow of communication. A flat organization structure helps to motivate employees to come up with brilliant ideas which benefits the company overall.
- Spend cautiously- Always be judicious in terms of spending money. Remember the money is the token of the investor’s trust, so spend less till the company becomes profitable.
- Make work fun for employees- Create a positive environment where work becomes fun for all. Remember, when the work becomes interest rather than a compulsion, the best results comes out even with lesser efforts.
Ideally, these are more like magic mantra rather than rules for your Startup success because the way one does business should not be bounded by any set pattern of rules. It must also be noted that in this technological era, every business one ventures in, it needs to be flexible, tech-friendly and supported by apps.
People like such companies which are easy to approach and there is no place better than your apps where you can engage the customers. There are Startups Apps Development Company which are experts in converting your ideas to reality with proper architecture and framework keeping all the constraints in mind.